A visitor looking around a luxury home at Iskandar Malaysia district in southern state of Johor Bahru in 2010. (AFP photo)

By Getty Goh

Some time back, I was invited to participate in a panel discussion at the SMART Property Exhibition in March 2010. There was a fellow panellist who was very experienced in overseas investments and had quite a number of property investments abroad. Back then, I was of the view that overseas properties were not as attractive as Singapore properties. One year on, I now hold the opposite view and believe that certain overseas destinations and developments may present interesting opportunities.

Why the change in sentiment?

There are five key factors that have led to my change in thinking.

Factor 1: High Property Prices in Singapore

Presently, property prices in Singapore are at an all time high. Based on Figure 1, the URA Private Property Price Index (PPPI) for 2011Q2 is at 203. This exceeded the last peak of 181.4 set in 1996Q2. Based on this trend, investors who buy Singapore properties now could be paying a premium and are not getting value for money deals.

Figure 1: URA

It is hard to tell whether cash-over-valuation for HDB flats will rise or fall. (Yahoo! photo)

Our article last week on What the raised income ceiling means for the property market by Dennis Ng resulted in quite a few comments from our readers. Our readers correctly pointed out that there was no raising of income ceiling for the purchase of resale flats, but only to qualify for the CPF grant when buying resale flats.

To be clear, the HDB regulations announced on 15 August stipulate that:

1. The monthly income ceiling for households will be raised from $8,000 to $10,000 for:

a. Purchasing a new flat from HDB

b. Purchasing resale flats with the CPF Housing Grant

c. Getting a HDB loan for the purchase of a new or resale flat

2. Raising the monthly income ceiling to purchase new Executive Condominiums (ECs) from $10,000 to $12,000.

There was no change to the DBSS income ceiling of $10,000.

So will the COV go up or down?

Our reader C.H. commented, "It is interesting that Dennis is predicting an increase in the COVs for HDB resale flats despite the increased income ceiling for HDB

The condominium market seems unaffected by recent economic matters. (iProperty photo)

By Daniel Seifert

World economic recovery might be slow but signs of Singapore's increasing prosperity are abundant. Nowhere is this clearer than the condominium market.

In the past, if a condo had a pool, tennis court and gym, they were seen as pretty fancy. Nowadays you can also luxuriate in a spa, sip a well-deserved drink at a sports bar (after clambering over your property's rockclimbing wall) and even chirp happily in a bird-watching tower. In the property market, it seems the stakes have been raised in a bid to wow tenants.

Many new properties are aiming to be the first, biggest or best of their kind in Singapore. Take Soleil@Sinaran, a new 417-unit condo situated in Novena. The first property on the island to team up with the local chain Aramsa Spa, its tenants will be able to bask in post-work bliss either on one of its six massage beds or in the hot tub by the pool, amongst other things. This is on top of the 'run-of-the-mill' condo features including a pool, barbeque pit,

Woodlands is the most-value-month for district in August. (Image courtesy of Slivester)

By Sheena Chua

As we begin the month of September, iproperty.com.sg takes a look at the previous month to see what the most value-for-money and most expensive districts of August 2011 are.

Source: StreetSine’s Property Analytics

Among all towns in Singapore, Woodlands is the most value-for-money district in the last month at the lowest average price per sq ft (psf) of $350, according to property information website StreetSine.

A significant $72 psf lower than the nation average ($422 psf), Woodlands is far from the town and central business district areas. But it is flanked by the Woodlands Regional Library, Woodlands MRT station, the Causeway Point shopping centre currently under renovation, and the Causeway.

Not surprisingly, the western and northwestern districts of Choa Chu Kang ($353 avg psf), Bukit Panjang ($380 avg psf), Jurong West ($382 avg psf) and Jurong East ($397 avg psf) have easily made it to the top ten. These towns are located further from the town area and commuters, especially those relying on public

Singapore's property market may see an oversupply by 2013. (Yahoo! photo)

By Dennis Ng

The news that the income ceiling to qualify for an HDB flat was being raised had been expected, but it will still have an impact on the property market.

Here's what may happen now that sellers and buyers may be more active as the Ghost month comes to a close:

1. Demand for DBSS (Design, Build and Sell Scheme) flats might drop. DBSS flats were previously for those whose income exceeded S$8,000 but are below S$10,000. There is no longer this sandwiched class in the new ruling.

People earning S$8,000 to S$10,000 can now either buy new HDB flats or resale HDB flats and be entitled to a Housing Grant.

2. Demand for 3-room resale HDB flats will go up. Many more singles will be given the housing grant to buy a resale flat and many of them are likely to rush out to buy 3-room resale HDB flats.

3. Some of the demand for mass-market condos, especially those priced between S$1,000 psf to S$1,300 psf will drop, as part of the demand will shift to ECs and HDB Resale Flats.

4. With

COV is a much discussed topic across different HDB estates. (iProperty)

By Sheena Chua

Following up on iProperty.com.sg's coverage on National Development Minister Khaw Boon Wan's comment that Cash Over Valuation (COV) cannot be abolished, here are the ten estates with the highest and lowest median COVs for the first half of 2011 based on statistics from property information website StreetSine.

Top 5 Estates with the Highest COV

Top 5 Highest COV

(Source: StreetSine's Property Analytics)

Bukit Timah comes in first place with a staggering $43,000 median COV. The consistently expensive district has commanded a cash premium $13,500 higher than that of the second highest estate in Singapore, Bishan.

The high median COV of Bukit Timah is hardly surprising, and there may be a few contributing factors. One of which is this characteristic of the district, which has a population of mostly well-heeled residents and a low number of HDB flats. Another possible reason could be the construction of Circle Line MRT stations — in particular, Farrer Road and Botanic Gardens stations. The

poll

By Khalil Adis (courtesy of PropertyGuru)

According to a recent poll by PropertyGuru, taken by 500 respondents, approximately 66 percent said they are totally against foreigners buying landed homes in Singapore.

The strong views against foreign ownership is not surprising as the government has, over the past few years, relaxed immigration laws to welcome foreigners.

The concept of foreigners owning landed homes in Singapore is very much tied to national and political issues.

Owning a piece of Singapore is a privilege, which I believe used to be bestowed upon Singaporeans only.

However, foreigners who wish to own landed homes are of a different classification as they are high net worth investors who can add value to the local economy.

Therefore, we need to view this issue in perspective.

Strict ownership criteria for foreigners

In Singapore, a foreigner cannot acquire or purchase restricted properties unless he or she has obtained prior approval from the Ministry of Law.

Such

HDB markets are being watched closely (iProperty)

It's been an eventful few weeks for aspiring homeowners. The Housing and Development Board (HDB) recently raised the income ceiling for those looking to buy homes. Couples, the elderly and single people will now find it easier to qualify for a living space.

In his National Day Rally speech, the Prime Minister stated that the income ceiling for those purchasing built-to-order (BTO) flats will be raised from $8,000 to $10,000. For executive condominium flats, they are to go up to by $2,000 to $12,000. Those aged above 55 and wishing to buy a purpose-built studio apartment for the elderly now have an income ceiling of $10,000. Previously it was $8,000.

At the same time, households with a high monthly income will receive smaller housing grants than lower earners, in an attempt to create a fair and tiered system, announced National Development Minister Khaw Boon Wan.

Potential buyers whose household income is $10,000 are still eligible to receive the entire Central Provident Fund (CPF)